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Shares of Torrent Power surged 9% to a 52-week high after signing two letters of award with Maharashtra State Electricity Distribution Company Limited for the long-term supply of 2,000 MW energy storage capacity. The agreements include 1,500 MW energy supply capacity and 500 MW additional storage capacity, with plans for 40-year procurement from a pumped hydro storage plant in Maharashtra.
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News and Media
RITES Share Price: Shares of RITES surged 8% after the company signed an MoU with Etihad Rail to explore railway infrastructure development in the UAE. This partnership aims to enhance connectivity, innovation, and sustainable infrastructure, boosting trade routes and operational efficiency. RITES' shares have increased by 37% over the past year.
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News and Media
SpiceJet Share Price: Shares of SpiceJet surged over 8% after settling a significant 1,107 crore dispute with lessors for $22.5 million. This follows the airline's recent resolution of a $16.7 million dispute with Engine Lease Finance Corporation. SpiceJet is now preparing to expand its fleet and improve financial stability.
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The SME IPO market in India is slowing down due to stricter regulations. Subscriptions and listing gains have declined. The new norms aim to enhance market stability by ensuring only financially strong companies get listed. This shift follows concerns about price manipulation and inflated valuations, aiming to improve the quality of listed companies.
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News and Media
Over the past year, Nifty50 has delivered a robust 30% return, and mid- and small-cap indices have materially outperformed the large-cap during the same period. This strong performance was on the back of a domestic growth story, good visibility of earnings growth, a stable macro-environment, and resilient flows.
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